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Elon Musk accidentally pumped up the Dogecoin rate

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Dogecoin to $1 or Rekt City? as Elon Musk & Snoop Dogg Pump Doge

Elon Musk accidentally pumped up the Dogecoin rate

Elon Musk accidentally pumped up the Dogecoin rate
CONTENT

  • Elon Musk posted a tweet in which he rosy assessed the prospects for Dogecoin.

  • As a result, the exchange rate immediately skyrocketed by 14 +%.

  • This is not the first time Musk has inadvertently triggered price spikes in the market..

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Dogecoin rallied almost 15% in response to Elon Musk’s tweet about the bright prospects of this comic cryptocurrency. And this time it was not an account hack.

Dogecoin rate soared this morning to $ 0.0037 after a drawdown to $ 0.0027. At the time of this writing, as the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More traded around $ 0.0034, gaining nearly 15% daily.

Elon Musk accidentally pumped up the Dogecoin rate

The impetus for the growth of the popular comic cryptocurrency was another tweet by Elon Musk, to which Twitter was turned on after being blocked due to the recent unprecedented hacker attack on Twitter. Unlike the previous bitcoin investment scam, this time the tweet was actually posted by Musk himself..

How do you like that, Elon Musk?

The well-known entrepreneur and CEO of Tesla shared with his readers an optimistic picture about his favorite cryptocurrency. It depicted Dogecoin crushing the entire financial system. “This is inevitable,” Musk commented on this prediction that the coin could gain the status of a hegemonic currency in the world monetary system..

Perhaps it makes sense to pay attention to DOGE as a profitable investment? Join the discussion in our Telegram channel – and you will find out everything!

According to CoinMarketCap, within minutes of the posting of the tweet, Dogecoin’s price went almost vertical, gaining almost 15%. As one of Twitter users @CryptoWhale commented, in 3 minutes after the publication of Musk’s tweet, Dogecoin’s market capitalization increased by almost $ 40 million.

“This is another reminder of how volatile the markets are and how easy it is to manipulate them,” summed up CryptoWhale.

Pump after pump

Elon Musk accidentally pumped up the Dogecoin rate

Recall that this month turned out to be hot for Dogecoin. At the beginning of July, the cryptocurrency was already in the focus of increased attention not only of the crypto community, but also of mainstream social networks..

She then rallied through a viral challenge launched on TikTok that openly encouraged users to join the pump, or pump, of the DOGE course to get rich. As a result, in less than two days, altcoin has risen in price by 100%.

Meanwhile, the penchant for pumping is characteristic not only of Dogecoin, but also of Elon Musk himself. A reputable entrepreneur also tends to provoke with his comments sharp jumps in asset prices, be it cryptocurrency or traditional stocks.

So, in early May, Musk wrote on his Twitter that the shares of his own company Tesla, in his opinion, are too overvalued. As a result, Tesla shares fell by more than 10% by the end of the day, and the company’s value decreased by about $ 15 billion. Investors in Dogecoin can only hope that Musk will not write anything like this about the cryptocurrency rate..

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